Gross Direct Premium of Rs12,548 crore - up 7.4% YoY, outpacing industry growth of 5.2%
FinTech BizNews Service
Mumbai, May 26, 2025 – Reliance General Insurance Company Limited (the Company), delivered a resilient performance in FY 2024–25, underpinned by its digital-first approach, customer-centric products, and diversified distribution strategy. Reliance General Insurance continued to expand its footprint across retail, corporate and government business segments while maintaining robust risk management practices.
The Company, which faced strong headwinds being under IBC for nearly 4 years, has been acquired by IndusInd International Holdings Limited. (IIHL) In order to resurrect the position of the Company, the new promoter has already infused Capital amounting to Rs 300 crores. Distribution channel being one of the core advantages in the insurance business, Promoter’s adjacencies to a vast pan-India network, will also be a boost to the company’s reach.
Key performance highlights for the year ended March 31, 2025, are:
Operational Highlights:
Expanded National Reach: Over 1,15,000+ customer touchpoints established across India, enhancing service accessibility.
Innovative Product Launches: Introduction of new-age insurance solutions across motor, health, and SME segments to meet evolving consumer demands.
Claims Excellence: Achieved a best-in-class claims settlement ratio of 99.57% (Claims settled < 3 months), reinforcing the Company’s reputation for reliability and customer trust.
Technology-Driven Growth: Continued investments in AI-led underwriting and digital solutions to improve efficiency, risk assessment, and customer experience.
Commenting on the Company’s performance, Mr. Rakesh Jain, CEO of Reliance General Insurance, said:
"FY 2024–25 marked a year of disciplined execution, strategic investments, and resilient growth, even in a dynamic and challenging market environment. Our continued focus on delivering seamless customer experiences, adopting cutting-edge technologies, and investing in talent has helped us build a strong, future-ready organisation. We remain steadfast in our commitment to protecting the aspirations of millions of Indians through innovative and trusted insurance solutions."
He further added that "The successful conclusion of the CIRP of Reliance Capital Limited in March 2025 has opened a transformative new chapter for us under the stewardship of IndusInd International Holdings Limited (IIHL). With IIHL’s strong financial backing and proven expertise in financial services, we are confident in our ability to accelerate our growth journey and lead the next wave of innovation in India’s general insurance sector."
The strategic support and long-term vision of IIHL are expected to bring enhanced operational agility, capital strength, and digital innovation capabilities to RGICL. This partnership will empower the Company to scale new heights by deepening distribution partnerships, embracing cutting-edge technologies, and reinforcing its commitment to customer-first innovation.
Well-positioned in a growing market, Reliance General Insurance is now equipped to lead the next wave of growth in India’s general insurance sector, delivering greater value to policyholders, partners, and stakeholders alike.
The Company has been awarded the Best Brand award by ET Now, Best Use of Technology & Best CX Team of the year 2025 by Bharat BFSI Leadership Summit & Awards. The company is also recognised as a “WOW Workplace 2025” by Jombay, reflecting the company’s commitment to creating an inclusive, empowering, and engaging workplace.
